Hentify the following statements that are TRUE regarding computing cost of goods old for the interim income statement. Inventory losses from decreases in market value below cost are recognized in the interim period of the decline. Recoveries of market price in subsequent interim periods should be recognized in the period of recovery as recovery of losses that were recognized in prior interim periods of that fiscal year. Manufacturers that use standard cost systems to compute cost of goods sold and ending inventory should use the same procedures for determining variances for an interim period as are used for the fiscal year. Estimated gross profit rates may not be used to compute the interim cost of goods sold. A physical count of inventory must be made each interim period